the last 14 trading sessions, the dow has lost 2,000 points, and by my calculation, that s about $2.8 trillion of wealth that has been destroyed. about 20% or one fifth of the annual output of the u.s. economy. so as the market continues to fall in this way, that s going to have real implications of on ordinary people, their 401(k)s, and how wealthy they feel and their ability to spend from here. so it is frankly quite serious. yes, it is. when is this going to start stabilizing a little bit? how much longer do we have to go through this? i have absolutely no idea, and nobody else in the market does either. today we thought we might get a bit of a rally, but it obviously didn t materialize. yesterday we had a huge swing, right down at the bottom, and within about an hour and a quarter, we rocketed 600 points. that s how volatile things are at the moment. but the environment is very, very jittery, because basically, the fed said yesterday, we re going to give you ultra l
and looking for focus on economic growth and job creation. after lunch with volunteers today, the president met with fed chairman ben bernanke and treasury secretary tim geithner. while congressional leaders have now released nine out of twelve picks for the so-called super committee, charged with finding another $1.5 trillion in deficit reduction. we need america to do what america used to do in the old times when things were tough. people got together, they didn t scapegoat, they rolled up their sleeves, they were very open-minded. the diverse group of republicans and democrats about to have wall street and the world watching their work. now, super committee members named on the republican side included tea party favorite also some so-called no new tax hard liners. the democrats have pledged to include some type of tax reform in this, so many analysts say we could be setting up for another debt lock on how to get to that deficit reduction, wendy. all right, kristen
right now it s rather mild and muggy. low 80s right by the bay. the radar showing showers coming in from the northwest, all associated with low pressure in the ohio valley. that s going to be drifting down our way as the day progresses. local radar scanning the sky. where you see the color, that s where it s raining. the yellow is where it s coming down harder. now getting heavy downpours in fauquier county on interstate 66. these are drifting off to the east and cover just about all of northern fauquier county. farther west and north in clark, shenandoah, page, and virginia, they are getting lighter rain after they had rain coming through there as well. this area of rain also extends as far east as prince william county just now across the bay coming into western charles county. this right now is passing south of washington. however, as we do get over the next couple of hours, we may get it coming closer to washington, certainly nearby suburbs in fairfax county will be getti
channel. she s well known and respected for her years on local tv news here in washington, d.c.. candace hewitt leaves a husband and young daughter. her co-workers at the pentagon channel invited us by to share their thoughts. she had the love of life and a passion for this business. not only as many people in the business knew her, and new her work as a producer, but there are hundreds of thousands of military members around the world who have also benefited from her work. today was one of the most surreal days i ve had in my life. we re used to seeing accidents and haeing reports, but to watch everything unfold the way it did is eerie and doesn t really sit right with me. reporter: the crashes left two drivers seriously injured. the driver of the ford that police believe may have started the chain reaction accident was taken for alcohol testing and released. he has not been identified. at this point no arges have been filed against that man. the injured are being tr